Symbotic Inc. (NASDAQ:SYM – Get Rating) – Equities research analysts at Cantor Fitzgerald reduced their FY2023 earnings per share (EPS) estimates for Symbotic in a report issued on Tuesday, November 22nd. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will earn ($0.19) per share for the year, down from their previous forecast of ($0.02). The consensus estimate for Symbotic’s current full-year earnings is ($0.01) per share.
A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Symbotic from $19.00 to $20.00 in a research note on Wednesday. Raymond James increased their target price on Symbotic from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Needham & Company LLC lowered their target price on Symbotic from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Robert W. Baird lowered their target price on Symbotic from $20.00 to $18.00 in a research note on Tuesday. Finally, UBS Group began coverage on Symbotic in a research note on Monday, September 19th. They issued a “buy” rating and a $17.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.27.
Symbotic Trading Up 13.5 %
Symbotic (NASDAQ:SYM – Get Rating) last announced its quarterly earnings results on Monday, November 21st. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Symbotic had a negative return on equity of 558.47% and a negative net margin of 10.08%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of SYM. SB Global Advisers Ltd bought a new position in Symbotic during the 2nd quarter worth approximately $219,400,000. Saba Capital Management L.P. lifted its holdings in Symbotic by 458.4% during the 3rd quarter. Saba Capital Management L.P. now owns 2,791,828 shares of the company’s stock worth $27,779,000 after buying an additional 2,291,828 shares during the last quarter. Navis Wealth Advisors LLC bought a new stake in shares of Symbotic in the 2nd quarter worth approximately $8,067,000. Vanguard Group Inc. bought a new stake in shares of Symbotic in the 3rd quarter worth approximately $1,523,000. Finally, BlackRock Inc. lifted its holdings in shares of Symbotic by 325.5% in the 3rd quarter. BlackRock Inc. now owns 170,213 shares of the company’s stock worth $1,958,000 after purchasing an additional 130,213 shares during the last quarter.
Symbotic Company Profile
Symbotic Inc, an automation technology company, provides robotics and technology to improve efficiency for retailers and wholesalers in the United States. It offers The Symbotic System, a full-service warehouse automation system that reduces costs, improves efficiency, and maximizes inventory. The company is based in Wilmington, Massachusetts.
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